The effects of obesity on your finances

Studies by the Center for Disease Control and Prevention indicate that 67 percent of the US adult population is overweight (BMI 25-29) and 34 percent is obese (BMI 30+). Many people are aware of the physiological implications of obesity, but are they aware of the financial impact obesity has? The US Department of Health and Human Services estimated that obesity accounts for 9 percent or up to $78 billion in direct costs of total medical spending in the United States. Direct costs are expenses attributable to preventive and diagnostic services. Taxpayers covered about half of these expenses through Medicaid and Medicare. The combined Medicare and Medicaid costs due to obesity are approximately $37.6 billion.

Being overweight or obese has a significant financial impact on people’s wallets. Being overweight or obese can mean up to 4 times higher life insurance premiums compared to people of normal weight. Obese people can expect to pay 10 times more lifetime medical costs related to chronic diseases such as type 2 diabetes and hypertension than their normal-weight counterparts. The average annual cost of prescription drugs for diabetes is $680, heart disease is $627, and hypertension is $502. Living a healthy lifestyle can reduce the need for medications and can put hundreds of dollars back in your budget to spend on other items. Instead of spending money on prescription drugs, one can reward oneself with a 3-day cruise to the Bahamas (starting at $400) or season tickets to the Atlanta Falcons (starting at $650 per ticket).

Here are some resources to help you lose weight and incorporate healthy behaviors into your lifestyle.

1. Attend an expo – At many health fairs or health and wellness expos, vendors from various health and wellness disciplines are available to answer questions.

2. Research: For more information on chronic diseases, visit the websites of leading health organizations like the Center for Disease Control or the American Heart Association.

3. Join a gym or hire fitness professionals: After you join the gym, be sure to ask questions and get support from a personal trainer to help you create routines that work.